Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 760 $3.50 510 $2.00 990 $4.10 245 $3.00 325 $4.00 490 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).

Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 760 $3.50 510 $2.00 990 $4.10 245 $3.00 325 $4.00 490 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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Cafe michigans manager, gary starkm suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the number of thesse coffees sold over six different price values: Price number sold $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480 Using simple linear regression and given that the price per cup is $2.80 the forecasted demand for mocha latte coffees will be [__] cups (enter your response rounded to one decimal place)
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